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and hillary clinton were awol and the defense department and the joint chiefs of staff were apparently unable to do anything to save our boys. tough story. we'll talk about it. "the kudlow report" begins right now. >>> first up the big story this evening. the northeast getting pounded with snow. nbc's jay gray is in boston, and that's still expected to be where the worst of it will happen. jay, governor patrick in massachusetts ordered all cars off the road at 4:00 p.m. today. does it look like people are following that order? >> reporter: hey there and good evening from boston. yeah, for the most part it looks like people are complying with that order to stay off the roadways. from our vantage point over the last couple of hours all we've seen are plows, sanding trucks and emergency officials out. that's good news. it means people are listening. they're inside their homes and trying to ride this storm out. look, this may be the hardest-hit area in this blizzard. forecasters saying we could see 2 to 3 feet of snow when it's all over. and unfortunately as the wind picks up here we're going to
, particularly the second half of the 90s, would you have called that the clinton bull market? >> absolutely, for one big reason. government spending was below 19%. i want that g out of there and the i up. >> in the 1980s you would have called that the reagan bull market? >> absolutely. >> but i can't get you to say it's the obama rally. >> what but? >> i think it's the bernanke profit making businesses ceo lean and mean rally, maerk's resilient private secretator, t heart of the free market economy is holding up better than i would have guessed and good for them. thank you very much and michael, who likes some decades better than others. now, folks, have you seen a weather forecast lately? not good, massive snowstorm on the way for the northeast. they're talking about this being an historic event. we have the latest on that just ahead. come on, nowadays lots of people go by themselves. no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ i'm lorenzo. i work for 47 different companies. w
under bill clinton. >> reagan ran enormous deficits and clinton surplus. >> bill clinton cut spending with newt gingrich. not tax rates. never. >> the tax increases have happened. the tax increases have happened. that part of the balance is there. now it is time to look at the other side which is spending cuts and entitlement reform. that's what hasn't come yet. >> i have to get out. thanks very much. appreciate it. you're both great. so are house republicans prepared to put up a spending cut fight with the president some let's get t? let's get the gop perspective. mr. roscom, what is your response to president obama's rift today? >> well, look, this is president obama's sequester to pay for the old ket credebt ceiling deal. that being said, the president also in december last time you and i talked had a great deal to say about all these revenues that were coming in and he created the impression on the part of the american public that all of our fiscal problems were going to go away. it was all going to be great if simply those tax rates went up. well, the tax rates went up, the presi
the clinton administration. >> w lowered marginal -- >> he did a little bit. at the time he did it, that's when the economy collapsed. but what i think she's missing here, if i can, is the reason they're all over there in ireland and all these others is because we have a double taxation system, we're the only major country in the world -- >> and obama loves it. >> we have the highest single tax rate, corporate tax rate in the world. >> it's one of the things he rejected. that was one of the biggest things he rejected. hang on, we're going to do a little stock market work, but you're all going to stay with me. first, i want you to listen to this bullish piece from my pal professor jeremy segal of penn. >> we're going to see earnings per share, i think 5% to 8% higher and i think we're going to get expanding multiples, which is going to send us well above dow 15,000. >> well above dow 15,000. i kind of like that. however, however, byron wean, a smart guy, today he said he's looking for a major correction. so andy, which is it going to be? are we going to have 15,000 dow or major correction
president obama and they compare president clinton. and the suggestion is that president obama has not been able to lead the same way, not been able to cross the aisle. do you think that's right? >> i think that president clinton was effective in crossing the aisle. and i think president obama would have been every bit as effective, but i think he faced a very different political situation. by the time you got from the '90s when we were there to the present time the polarization had hardened very substantially and i think had president obama faced the same political situation that president clinton had it would have been very difficult, just as it was very difficult for president clinton, but i think obama in a different style, in his own way, would have been equally effective working with the opposition. >> we have lots of ceos who came on the set before the election who said that president obama was not pro-business. he was not pro-growth. he was not -- you've heard it. you've heard it a lot. do you believe that? having lived in washington. what's your take on that issue? >> my take is as
council of economic advisers under president clinton. she says the sequester is absolutely not necessary and must be avoided. bob mcteer is a distinguished fellow at the national center of policy analysis, former president of the dallas federal reserve and a cnbc contributor and says if they can't make a good deal willing to risk the side effects of the sequester. good to see you. thank you very much for joining us. >> thank you. >> lawyer, if the sequester kicks in, how much damage does it do to the economy? >> two recent estimates from the bipartisan policy group, 1 million to 1.2 million to 3 million jobs. last year the economy created 2.2 million jobs. this year we take out 1 million to 1.2. we take off a percentage point of gdp, but the real question is it's absolutely not necessary. it's bad policy and it's not necessary. >> bob, what do you say about that? you're willing to let the sequester happen, right? >> if necessary. i do think it's a bad idea but if it's packaged up with much more tax increases and we can't get a better deal, then this is better than nothing and maybe it ca
secretary under president clinton. let's talk with buzz words we hear again and again, a balanced approach to balance and spend. people have their own views what balanced and fair means. you spend time talking to people inside the white house. what does that mean in practice? >> you go back over the past year, the word balance has really meant what is the long way to get long term fiscal debt reduction and fiscal responsibility between revenue and spending cuts. i think today that discussion of balance has actually migrated to one of also timing, the idea of what is good for the short term to get the recovery on track versus what is good for the long term, in terms of getting obviously debt to gdp to a manageable level. from my perspective, a balance today says recognizing that government has an important part, in terms of the short term keeping the recovery going. you saw last quarter, gdp flat. why? the biggest component of that, government spending, down a point and half. >> why don't we see then the obama administration take an approach, we're not going to do anything this second, 10 y
of course and obviously today is hillary clinton's last day. so we'll see big changes over there as john kerry will now take over as secretary of state. so a lot of changes here for barack obama. obviously this is typical when you have a second term but of course it's a tricky period for any president to navigate because he's got those familiar faces now parting ways and he's got a whole new crew coming in. >> transportation, too, as my producer points out. and energy one of those that really does have implications for investing. thanks so much. >> yes. >> so is this rally going to continue? on the newsline this morning brian belsky the chief investment strategist with bmo capital markets, good morning to you. >> good morning, carl. thanks for having us. >> what do you make of today and everything that's led up to today starting at the beginning of the year? >> well, i tell you what. this is all about building, quote-unquote, street cred for equities again, rising stock prices do a lot with respect to making people feel better about the institution of equity investing. clearly, some asse
Search Results 0 to 7 of about 8

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